by The Arduino compatible market is estimated to be valued at US$ 1.35 billion in 2023 and is expected to exhibit a CAGR of 12.2% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Arduino is an open-source electronics platform based on easy-to-use hardware and software. It consists of both a physical programmable circuit board and a piece of software or IDE (Integrated Development Environment) that runs on your computer. It can be used to develop interactive objects or environments that sense and control more of the physical world than typical personal computers. Some key uses of Arduino include prototyping and building IoT (Internet of Things) devices ranging from wearables and robots to smart home products. Its open-source nature allows developers to easily build upon the work of others and take inspiration from the large community of projects online.
Market Dynamics:
The arduino compatible market is expected to witness significant growth during the forecast period. This is attributed to increasing adoption of Internet of Things (IoT) across various industrial sectors. IoT-enabled devices such as sensors and actuators require microcontrollers for connectivity and control functions. The open-source and modular nature of Arduino makes it a suitable platform for prototyping and developing IoT devices in a cost-effective manner.
Another major driver is the growing demand for open-source hardware from university students, researchers, hobbyists and startups. Arduino provides a user-friendly environment for learning embedded systems and building hardware prototypes at low costs. This has boosted its adoption in teaching programming and electronics. The availability of various Arduino boards, shields and a large community support further stimulates the
Segment Analysis
The global Arduino compatible market is dominated by DIY/educational segment which accounts for over 35% share. This segment encompasses individual hobbyists, researchers, designers as well as educational institutions that use Arduino boards and compatible shields for prototyping, experimentation and learning programming concepts. Ease of use and wide community support along with an affordable price point makes Arduino an ideal choice for DIY and education projects.
PEST Analysis
Political: The governments across major markets like US, Europe and China are promoting STEM education and research & development in IoT which is positively impacting the adoption of Arduino compatible kits and boards.
Economic: Growth in IoT industry along with demand for cost-effective rapid prototyping solutions from industrial segments is driving the economic growth of Arduino compatible market.
Social: Increased interest of young developers and makers in IoT, robotics, wearables is generating strong social demand for accessible and customizable microcontroller platforms like Arduino.
Technological: Advancements in open-source hardware and software ecosystem along with continuous improvements in processing power and features of Arduino boards is fueling the technological growth of this market.
Key Takeaways
The global Arduino Compatible Market Size is expected to witness high growth exhibiting a CAGR of 12.2% over the forecast period of 2023 – 2030, to reach a valuation of US$ 1.35 billion in 2023. Rapid growth of IoT industry and surge in popularity of DIY robotics and automation projects among hobbyists and students are the major drivers propelling the demand for affordable and user-friendly Arduino boards.
Regionally, North America dominates currently with over 30% market share led by United States. Presence of major players, advanced research infrastructure and tech-savvy population makes North America highly lucrative region. Europe is another prominent regional market growing at a fast pace due to widespread adoption of open-source platforms in research and education sector across Germany, UK and France.
Key players operating in the Arduino compatible market are Arduino, Adafruit, SparkFun, Seeed Studio, Microchip, NXP Semiconductors, STMicroelectronics, Texas Instruments, Cypress Semiconductor, Silicon Labs, Renesas Electronics, Infineon Technologies, Maxim Integrated, ON Semiconductor, Microchip Technology, Semtech, Analog Devices, ROHM Semiconductor, FTDI Chip, Intel. Among these, Arduino holds the dominant position with widest range of compatible boards and strong open-source community support worldwide.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
